Chicago Metropolitan Water Reclamation District Retirement Fund hired Matarin Capital Management to run about $26 million, or 2% of the $1.3 billion pension fund’s total assets, in active domestic small-cap core equity, said Susan Boutin, executive director.
Funding for Matarin, an emerging manager, came from domestic small-cap growth equity managers UBS Global Asset Management and Geneva Capital Management, which were terminated.
Both managers were terminated for “asset allocation and manager consolidation purposes,” Ms. Boutin said in an e-mail. It was not related to performance, she said.
An RFP was issued earlier this year for an emerging active domestic small-cap core equity manager.